Obtaining licence under fictitious name - Maharashtra Money-Lending (Regulation) Ordinance, 2014

Whoever,—

(a) obtains a licence in the name which is not his true name or carries on the business of money-lending under the licence so obtained ; or

(b) carries on the business of money-lending at any place not mentioned in the licence authorizing him to carry on such business ; or (c) enters into any agreement in the course of business of money- lending without a valid licence, or under a licence obtained in the name

which is not his true name, shall, on conviction, be punished,—

(i)for the first offence, with imprisonment of either description which may extend to one year or with fine which may extend to rupees fifteen thousand or with both, and

(ii)for the second and subsequent offence, in addition to or in lieu of, the penalty specified in clause (i), with imprisonment of either description which shall not be less than five years, where such person is not a company, and with fine which shall not be less than rupees fifty thousand, where such person is a company.

42.Whoever contravenes the provisions of section 23 shall, on conviction, be punished with fine which may extend to twenty-five thousand rupees or with imprisonment of either description which may extend to three years or with both.

43.Whoever contravenes the provisions of section 24 or 25 shall, on conviction, be punished with fine which may extend to twenty-five thousand rupees.

44.Whoever charges or recovers interest in contravention of section 31, shall, on conviction, be punished with fine which may extend to twenty- five thousand rupees, if it is first offence and with fine up to fifty thousand rupees, for the second or subsequent offence.

45.Whoever molests, or abets the molestation, of a debtor for the recovery of a debt due by him to money-lender shall, on conviction, be punished with imprisonment of either description which may extend to two years or with fine which may extend to five thousand rupees, or with both.

Explanation.—For the purposes of this section, a person who, with intent to cause another person to abstain from doing any act which he has a right to do or to do any act which he has a right to abstain from doing,—

(a) obstructs or uses violence to or intimidates such other person,

(b)persistently follows such other person from place to place or interferes with any property owned, or used by him or deprives him of, or hinders him in, the use thereof, or

(c)loiters near a house or other place where such other person resides or works, or carries on business, or happens to be, or does any act calculated to annoy or intimidate such other person, shall be deemed to molest such other person.

46. Whoever fails to comply with or acts in contravention of any provision of this Ordinance, shall, if no specific penalty has been provided for in this Ordinance, be punishable,—

(a) for the first offence with imprisonment of either description which may extend to one year or with fine which may extend to twenty- five thousand rupees, or with both ; and

(b) for the second or subsequent offence, with imprisonment of either description which may extend to two years or with fine which may extend to ten thousand rupees, or with both.

47.If the person contravening any of the provisions of this Ordinance is an undivided Hindu family or a company or an unincorporated body, the person responsible for the management of the business of such family, company or body shall deemed to be guilty of such contravention.

48.Notwithstanding anything contained in the Code of Criminal Procedure, 1973, offence punishable under,—

(a) sections 39 and 41, for contravening provisions of section 4, and (b) section 42, for contravening provisions of section 23, and

(c) section 45, for molestation, shall be cognizable.

49. Notwithstanding anything contained in any other law for the time being in force, no debtor who cultivates land personally and whose debts does not exceed fifteen thousand rupees shall be arrested or imprisoned in execution of a decree for money passed in favour of a money-lender, whether before or after the date on which this Ordinance comes into force.

Explanation.— The expression “ to cultivate personally ” shall have the meaning assigned to it in clause (6) of section 2 of the Maharashtra Tenancy and Agricultural Lands Act or any corresponding Act.

50. Every officer of the Government acting under the provisions of this Ordinance shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code.

51.No suit, prosecution or other legal proceedings shall lie against the Registrar General, or any authority for anything done or purported to have been done in good faith in pursuance of the provisions of this Ordinance or the rules made thereunder.

52.Nothing in this Ordinance shall affect any of the provisions of the Maharashtra Agricultural Debtors Relief Act or of any other law relating to relief of agricultural indebtedness in force corresponding to that Act, and no Court shall entertain or proceed under this Ordinance with any suit or proceedings relating to any loan in respect of which debt adjustment proceedings can be taken under the said Act, or, as the case may be, the said law.


53.The State Government may, by notification in the Official Gazette, delegate to any officer any of the powers conferred on it by or under this Ordinance.

54. (1) The State Government may, by notification in the Official Gazette, make rules for carrying out the purposes of this Ordinance.

(2) In particular and without prejudice to the generality of the foregoing provisions, such rules may provide for all or any of the following matters :-

(a) the form of the application for a licence, the further particulars to be included therein and the amount of and the manner for payment of licence fee under section 5 ;

(b) the form and conditions of the licence under section 6 ;

(c) the form of the register under section 7 ;

(d) the manner of publishing a notice under sub-section (4) of section 17 for inviting claims to property pledged with a money-lender ;

(e) the form of cash book and ledger and the manner in which they should be maintained under sub-section (1), the form of passbook to be furnished under sub-section (2) and the other particulars to be prescribed under sub-section (5) of section 24 ;

(f) the form of the statement of accounts under sub-section (1), the sum of expenses to be paid under sub-section (3) of section 25 ;

(g) the fees to be paid under sub-section (2) of section 26 ;

(h) the form of application and the fee to be paid under sub- section (1) of section 36 ;

(i) any other matter which is or may be prescribed under this Ordinance or any matter for which there is no provision or insufficient provision in this Ordinance and for which provision is, in the opinion of the State Government, necessary for giving effect to the provisions of this Ordinance ;

(j) a provision that the contravention of any of the rules shall be an offence and shall punishable with fine not exceeding such amount as may be prescribed.

(3) Every rule made under this Ordinance shall be laid, as soon as may be, after it is made, before each House of the State Legislature while it is in session for a total period of thirty days, which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, and notify their decision to that effect in the Official Gazette, the rule shall, from the date of publication of such decision in Official Gazette, have effect only in such modified form or be of no effect, as the case may be, so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done or omitted to be done under that rule.

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